“No one is suggesting I should do anything to interfere with the closing,” Vice Chancellor Sam Glasscock III of Delaware Chancery Court said of the shareholder vote. He later added, “I’m pretty confident we can work something out.”
The agreement was reached just days after another Delaware Chancery Court judge refused to delay the merger in response to a lawsuit filed by a company controlled by Patrick Orlando, the former chief executive officer of Digital World and the original sponsor of the shell company known as a special purpose acquisition company.
Mr. Orlando, Mr. Moss and Mr. Litinksy were early participants in talks that ultimately led to the announcement of a proposed merger between Trump Media and Digital World in October 2021. But the deal was delayed, in part, because of an investigation by the Securities and Exchange Commission into those negotiations, which took place before Digital World went public in September 2021.
Last summer, Digital World agreed to pay $18 million to the S.E.C. as part of a settlement to resolve the investigation. Regulators had said those early merger talks violated federal securities laws because they were not properly disclosed to investors. Special purpose acquisition companies, or SPACs, are not supposed to have a deal lined up before raising money from the public.
Mr. Moss and Mr. Litinsky were contestants on Mr. Trump’s reality television show “The Apprentice.” Shortly after he left the White House in January 2021, the two men talked to Mr. Trump about creating a social media company.
